CPI Aerostructures, Inc. (CVU) Upgraded to Hold by Zacks Investment Research

CPI Aerostructures, Inc. (NYSEMKT:CVU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “CPI Aerostructures, Inc. is comprised of two distinct entities: CPI Aerostructures, Inc. and Kolar, Inc. CPI is engaged in contract production of structural aircraft parts and sub-assemblies for the commercial and military sectors of the aircraft industry. In connection with its commercial assembly operations, CPI provides engineering, technical and program management services to its customers. Kolar manufactures precision machine parts and sub-assemblies for the electronics industry, including computer and microwave device manufacturers. “

CVU has been the topic of a number of other reports. B. Riley restated a “buy” rating and set a $9.50 price objective on shares of CPI Aerostructures in a research note on Saturday, March 11th. Noble Financial cut shares of CPI Aerostructures from a “buy” rating to a “hold” rating in a research note on Thursday, December 22nd.

Shares of CPI Aerostructures (NYSEMKT:CVU) traded down 0.77% on Friday, reaching $6.45. 9,149 shares of the company’s stock were exchanged. The firm’s market capitalization is $56.45 million. The firm has a 50 day moving average of $6.77 and a 200 day moving average of $7.52. CPI Aerostructures has a one year low of $4.35 and a one year high of $10.15.

CPI Aerostructures (NYSEMKT:CVU) last posted its earnings results on Tuesday, March 7th. The aerospace company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.01. The business earned $24.27 million during the quarter, compared to the consensus estimate of $25.30 million. The business’s revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 EPS. On average, equities research analysts predict that CPI Aerostructures will post $0.59 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.chaffeybreeze.com/2017/04/21/cpi-aerostructures-inc-cvu-upgraded-at-zacks-investment-research-updated.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVU. Royce & Associates LP boosted its position in shares of CPI Aerostructures by 3.8% in the fourth quarter. Royce & Associates LP now owns 627,266 shares of the aerospace company’s stock worth $5,802,000 after buying an additional 23,200 shares in the last quarter. Rutabaga Capital Management LLC MA boosted its position in shares of CPI Aerostructures by 4.2% in the third quarter. Rutabaga Capital Management LLC MA now owns 601,609 shares of the aerospace company’s stock worth $4,061,000 after buying an additional 24,200 shares in the last quarter. Perritt Capital Management Inc. boosted its position in shares of CPI Aerostructures by 1.5% in the fourth quarter. Perritt Capital Management Inc. now owns 483,887 shares of the aerospace company’s stock worth $4,476,000 after buying an additional 7,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CPI Aerostructures by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 250,860 shares of the aerospace company’s stock worth $2,320,000 after buying an additional 12,474 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of CPI Aerostructures during the fourth quarter worth $836,000.

About CPI Aerostructures

CPI Aerostructures, Inc (CPI Aero) is a supplier of aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense markets in the United States. The Company is a manufacturer of structural aircraft parts and aerosystems. It is also a contractor to the United States Department of Defense, primarily the Air Force.

Get a free copy of the Zacks research report on CPI Aerostructures (CVU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CPI Aerostructures Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CPI Aerostructures Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply